Credible is an online based mortgage broker that specializes in mortgage refinance loans. Founded in San Francisco in 2012, Credible has a wide range of products to suit a wide range of borrowers, as well as providing educational content on a variety of lending topics. Credible has grown to be a reliable and well established way for borrowers to refinance their mortgage.
As a mortgage broker, Credible works to find you the best mortgage refinance rates. They have established themselves as a leader in the online field and boast excellent ratings: A+ on Better Business Bureau and a five star rating on Trustpilot. Thousands of satisfied customers have used Credible for their mortgage needs. Based on the information provided by the borrower, Credible will search through its database of lenders and find the best rate possible for a refinance. They offer a Best Loan Rate Guarantee, meaning that if the borrower finds a better rate elsewhere, Credible will pay them $200. They also have excellent customer service, and pride themselves on being a one stop shop from the beginning to the end of the refinance search process.
Credible is suitable for anyone looking to refinance their mortgage. They do work best for people with fair to excellent credit, and the best rates are provided with a higher credit score. Applicants must be at least 18 years of age, a U.S. Citizen or permanent resident, and they must be residing in the U.S.
The application process is quick and easy for Credible. The applicant will enter basic information about the loan type needed, and then Credible will provide lender offers. Multiple questions are asked during the application. These include:
Once lender options have been provided, the applicant can choose whichever rate and company works best for them. The application process with the company chosen may request additional documents and information before finally providing a solid number in terms of refinancing a mortgage.
Credible is a mortgage broker only, and is not a direct lender. The rates and terms are determined by the company the applicant chooses after completing a search with Credible.
Help And Support
Credible has a team of highly experienced specialists to help applicants every step of the way. The online application process is straightforward, but if additional assistance is needed, applicants can contact Credible via email, phone, or the chat service offered through their website.
Credible is a solid and well trusted option when it comes to searching for mortgage refinance rates online. They offer the best rates possible; they also provide exact rates, not averages, so the applicant knows exactly what to expect from each lender made available. Credible charges no fees to the applicant, and the process is risk free due to the fact they do not perform a hard credit check. Their online application is safe and secure, with ample support provided both on their website as well as email, phone, and chat. The lenders used are vetted by Credible, so the applicant can trust the information provided to them. Credible is a good choice for anyone looking to refinance their existing mortgage.
How do I know I am eligible for a refinance?
Credible searches for lenders based on the information provided by the applicant. As long as the information requested follows their guidelines, lenders will be offered. Individual lenders do have varying requirements for refinance.
Will my credit score be affected from searching for lenders?
No, there is no hard credit check to search for lenders through Credible.
How does Credible make money?
As a broker, Credible receives a fee when an applicant takes out a loan with one of the recommended lenders. This does not affect the offers provided or the rates.
Contact
Client Relations
1-866-540-6005
support@credible.com
Chat service
The chat service is located on the bottom right corner of all pages navigated to on the Credible website.
Loan Depot (loanDepot) is based in Foothill Ranch, California and was founded in 2010. Since founding, Loan Depot has become one of the top mortgage lenders in the business. Their main mortgage process is online, however they do also have brick and mortar locations to assist borrowers, with more than 200 branches nationwide. They feature their own online service branded as “mello smartloan”, which expedites the loan from start to finish.
loanDepot has its own online service branded as “mello smartloan”, which expedites the loan from start to finish. Having an end to end online service means that borrowers do not need to worry about faxing or mailing the necessary paperwork, and can clear closing in as little as eight days.
Loan Depot offers a variety of home loan options, all of which can be applied for using their online service. Their loan statistics are impressive, having funded over $275 billion since founding. They are the fifth largest retail mortgage lender, boasting a team of over 10,000 employees to help borrowers get the loan that meets their needs. They also pride themselves on their community funding, with $3 million donated to families and communities to help during the Covid 19 pandemic.
Loan Depot helps many borrowers get into the home of their dreams. With the exception of a few loan types, anyone looking to purchase a home can find Loan Depot to be a solid option.
Loan Depot offers a wide range of mortgage and refinancing products for borrowers to choose from.
The application process is quick and streamlined, and all online. The borrower answers basic questions such as their name, phone number, location of the property they wish to purchase, cost of the home, and credit score. Once this information is provided, they are connected with a loan specialist through Loan Depot. Depending on the home chosen, the borrower then works with the loan specialist to decide which mortgage type would best suit their needs. More information is provided to the loan specialist to gain the mortgage pre-approval; income, amount of debt, employer information, employment tenure, and if there is a co-applicant. Once the file is complete, the loan specialist will work with the borrower to confirm the details of the loan, confirm the rate, and discuss closing fees. When finished, a home inspection and appraisal is completed, followed by signing and closing on the mortgage.
Loan Depot does not disclose rates and terms on their website unless the borrower is completing an application. This is due to the fact that they have many loan types, as well as taking into account the borrowers personal finances and credit scores. Current market rates vary from 2.125% on a conventional 10 year fixed rate, to 3.250% on a 30 year fixed FHA loan.
Loan Depot provides flexibility in communication through emails, texts, phone calls, or in-person meetings. There is the option for clients to apply online and have a completely digital lending experience as well. For all of the client needs, Loan Depot has a bilingual English/ Spanish customer service line and can be reached at 1-888-983-3240, Monday to Friday 8:00am-10:00pm EST and on Saturdays from 11:00am to 6:00pm EST. Loan Depot has extensive information on the home buying process online as well.
Loan Depot offers a huge variety in loan types, helping people get into the home of their dreams. Their straightforward online application process means that borrowers can submit and provide all information without needing to see anyone in person. However, with over 200 locations nationwide, in person assistance is always an option. Closing on a home is a quick process, and superior customer support is provided throughout the application and purchasing of a home.
What is an FHA 203(k) loan?
This loan type is a government insured mortgage used for two purposes; home purchase and home renovation, though a 203(k) loan is primarily used for new construction projects.
Can I refinance through Loan Depot?
Refinance loan options are available through Loan Depot, and can be applied for using the same application method as a regular home loan. Refinance and cash out refinance options are both available.
Would I qualify for a VA Loan?
VA (Veterans Affairs) loans are a loan type available to active and retired service members, as well as their spouses. Borrowers must be able to show that they are active or retired. VA Loans are backed by Veterans Affairs and can offer lower than average rates and terms to qualified applicants.
Contact
Head Office
26642 Towne Centre Drive
Foothills Ranch, California
92610
Client Relations
For New applicants
1-888-983-3240
An online contact form is also available
Loan Depot does not offer a chat service
For Existing Borrowers
Payments can be made to:
P.O. Box 11733
Newark, NJ
07101-4733
1-877-420-4526
Available:
Monday to Friday 8:30am to 11:00pm EST
Saturday 8:30am to 5:00pm EST
customerservice@loanadministration.com
loandepot.loanadministration.com
New American Funding is a family-owned business founded by Patty and Rick Arvielo in 2003. Since then, New American Funding has grown into a $38 Billion lending company with national recognition. New American Funding is the first independent mortgage lender to win the 2019 Torch Award for Ethics from the Better Business Bureau in recognition of our practices in character, leadership and organizational ethics. In 2019 New American Funding became one of the top 30 national lenders levelling out with large regional banks, national credit unions, and major mortgage lenders.
With over 200+ physical locations, and an online service in all states except New York and Hawaii. New American Funding offers a large suite of mortgage products to all Amercians with credit scores over 520 credit score.
New American Funding is suitable for all kinds of clients from all kinds of financial and diverse backgrounds. New American Funding is a great company for first-time homebuyers as well who want to know more about the entire loan process.
It’s worth noting that although the mortgage requirements for New American Finance match requirements by many other mortgage companies, they also offer non-qualified mortgage. They’ll accept non-traditional and alternative income verification, less-than-ideal credit scores, and they offer multiple loan options. With a non-qualified mortgage, the loan maximum is $2.5 million.
Types of Loans/ Products
New American Funding offers a wide range of mortgage and refinancing products for borrowers to choose from.
If you think you have a situation that no one can help you with, look to New American Funding they might just be able to help you.
There are a couple of ways to apply for a mortgage at New American Funding, borrowers can call (855) 276-3747 and speak with an agent or press the request a quote button on the website and fill out a series of simple questions. If the borrower prefers to submit the application online the questions they are required to select if they are purchasing or refinancing there are specific questions to answer for both purchasing or refinancing. The purchasing questions to answer are; type of property, how the property will be used, if it's the first time buying the home when you plan to purchase the home, credit rating, where the property is located, the estimated purchase price, how much the downpayment is, employment status, annual household income, if you can show proof of income, if active or previous military service, if any bankruptcy or foreclosures, number of late mortgage payments if applicable, then enter your contact information. Each mortgage loan type has its' own set or qualification requirements. Once the borrower has filled out those questions an agent will get in touch with them and discuss the mortgage process and the required documentation they will need to start the mortgage preapproval process and the amount of a mortgage loan the borrower may be approved for. New American funding agents have the flexibility to communicate with their clients via; texts, calls and emails and the agents analyze their clients' finances and provide educational resources for understanding; refinancing, purchasing a new home or first home. This helps ensure that their clients make informed decisions when making their commitment to our mortgage products.
There are flexible repayment terms depending on which loan the borrower selects. Repayment terms range from fixed rates on 10,15 and 30-year terms, adjustable-rate mortgages ARMs 15/15, 5/5, 10/1,7/1, and 5/1 and with 8-30 year terms for the ICAN mortgage product.
New American Funding provides flexibility in communication through; emails, texts, phone calls, or in-person meetings. There is the option for clients to apply online and have a completely digital lending experience as well. For all of the client needs, New American funding has a bilingual English/ Spanish customer service line from 7 am to 7 pm Pacific Standard Time @ (855) 276-3747.
New American Funding provides a number of loan products with competitive rates. New American Funding provides an abundance of educational materials to understand how mortgages work and the best ways to save money. With the educational resources and the personalized loan process for each client, New American Funding is a great option for anyone looking to get a mortgage loan.
What loan options are available on 15 year fixed rate mortgages?
Loan options include; government-insured (FHA, VA, USDA), conventional (Freddie Mac and Fannie Mae), purchase and refinance.
How much cash-out is available on VA mortgage Refinancing?
90% cash-out refinance including the funding fee allows the financial flexibility to pay off debts, renovate, vacation, etc.
What is The New American Dream and Latino Initiatives?
New American Funding understands that there are challenges to obtaining homeownership. To help with these challenges NAF goes into the underserved communities and provides mortgage education. Because of this initiative in 2018 alone, 10 % of loans were attributed to their African American clients and almost a quarter of their loans to their Hispanic clients. Whereas, the national representation of mortgage loans to this demographic was 9.4% and 5.6% respectively.
How does New American Funding contribute to the community?
New American Funding supports community programs such as; Toys for Tots, Big Brother's and Big Sister's ( BBBS), Mercy House, WHW, and WE Charity.
Corporate Headquarters
New American Funding
14511 Myford Road, Suite 100
Tustin, CA 92780
Payment Mailing Address
New American Funding
PO Box 650076
Dallas, TX 75265-0076
Better Mortgage is on mission to make it simpler, faster and more afforable to refinance and buy a home. To date, they have originated over $2 billion in conventional mortgage loans.
Better Holdco, Inc. (“Better”) was launched back in 2014 with a mission to make homeownership simpler, faster, and more accessible for everyone. In 2014 Better partnered with Avex Funding, a company that specialized in prime conforming and jumbo mortgages for over 10 years. In 2015 Better acquired mortgage partner Avex Funding which originated in California. By the end of 2015, Better established Better Mortgage as a lender with a solely direct online relationship with their borrowers without the need to use commission loan officers.
Better Mortgage is suitable for people who have access to the internet. Clients must feel comfortable completing the entire mortgage online under the highly secure website. Better Mortgage is for people with a fairly good and stable credit standing as the Better Mortgage product requires a minimum credit score requirement of 620.
At Better Mortgage the mortgage application and entire mortgage process are done solely online. Better Mortgage has affiliates that can help you with the setup of closing costs, real estate and homeowners insurance..
The mortgage loan process is done 100% online with pre-approval in as little as 3 minutes, just by answering some short simple questions for purchasing or refinancing. Once the borrower receives pre-approval the borrower will be provided with a Loan Estimate including; estimated monthly payments and interest rates, total closing cost estimate and the estimate of taxes and insurance as well. It can take up to 2 hours to receive pre-approval and the loan estimate if the borrower has a specific home in mind that they want to purchase
There are various repayment terms available depending on which loan the borrower selects. Repayment terms range from fixed rates for 15, 20 or 30 year terms, and adjustable-rate mortgages (ARMs) which offer fixed rates for an initial fixed period (5, 7, or 10 years). After that initial period is over, the rates on ARMs will adjust (and typically increase) each year based on market rate factors.
Better Mortgage has their own software that calculates affordable mortgage rates which consider the factors of credit history, property characteristics and market conditions among others.
Mortgages and mortgage refinancing are typically completed in person, or are a combination of in person and e-signing. In some circumstances mortgages can be closed entirely online including the e-signing of closing documents. Better Mortgage contact support is available 7 days a week, 9 am – 9 pm ET. Better Mortgage has contact support available through email and by phone @ Email: hello@better.com Contact Support Line: 415-523-8837
Since 2016, Better Mortgage has funded over $42 billion in loans including; $30 million in series A funding, $15 million in series B funding, and $160 million in series C funding.
Better Mortgage offers competitive pricing for our borrowers to benefit from. Homeownership services are available through; Better Mortgage, Better Real Estate, Better Settlement Services , and Better Cover. Better Mortgage has a variety of services that can save you money when it comes to zero originating fees, affordable closing costs and helpful insurance affiliates. Save more with Better Mortgage with a hassle-free mortgage process done entirely online
What types of properties are available to purchase using mortgages?
Better Mortgage provides mortgage loans for the following properties: single-family homes, multiple-family homes of up to 4 units, condominiums, townhouses, and planned unit development (PUD).
How long does it take to close the loan once the rate is locked?
Better Mortgage closes 10 days faster than the industry average.Their closing time is 32 days which is 10 days faster than industry average.
What states are Better Mortgage products not available in ?
Not available in; U.S. Virgin Islands, Vermont, Virginia, Nevada, New Hampshire, Massachusetts, Hawaii, and Minnesota.
Where can I find out more about the price guarantee?
This guarantee only applies to certain circumstances. For terms and conditions see here.
Better Mortgage Address
Better Mortgage Corporation NMLS #330511.
3 World Trade Center,
175 Greenwich Street,
59th Floor, New York, NY 10007
AmeriSave Mortgage Corporation is a direct mortgage lender operating in 49 states (excluding New York). The majority of AmeriSave’s business is dedicated to refinancing, and they do have convenient online options such as document upload and e-signatures, though most of the process is handled by phone.
AmeriSave boasts some serious statistics: over 19 years of experience in helping customers finance a home for the first time or refinance an existing property, over $84 billion funded, and over 325,000 homes financed.
AmeriSave offers mortgages and refinancing products. The available loans through AmeriSave are; Fixed Rate Mortgages, Adjustable Rate Mortgages, Cash out Refinances, Rate and Term Refinancing, FHA Loans, VA Loans, and USDA Loans. AmeriSave offers a wider selection of fixed rate mortgages with mortgage terms of; 10,15,20,25, and 30 years. The mortgage terms AmeriSave offers on adjustable rate mortgages are; 5/1,7/1, and 10/1. The repayment terms for loans available at AmeriSave depend on the type of loan selected and can be any of the following; 5,7,10,15,20,25,and 30 years.
AmeriSave is suitable for borrowers who have already shopped around, gathered the needed paperwork and are prepared to commit to the loan application fee. Borrowers who are tech savvy and like to apply while on the go will appreciate the mobile accessibility of AMeriSave application and mortgage/ loan process.
AmeriSave has a variety of mortgages as well as a cash out refinancing, and rate and term refinancing loans. AmeriSave however does not offer second mortgage options like HELOCs, home equity loans, or home improvement loans.
Mortgage and Refinancing Product Selection
Borrowers are able to apply directly by contacting AmeriSave by phone, through AmeriSave’s website, by chat, or by using their ease-of-access online platform. AmeriSave offers customers the flexibility and convenience of managing their mortgage or refinancing online - it’s mobile friendly, and customers can apply right through their smartphone or tablet. In order to access this option, customers need to answer a series of personal and financial questions, enter a provided verification code, and agree to a soft credit inquiry. Once a customer is all set up, AmeriSave offers multiple online options, including online loan process tracking and the ability to e-sign loan documents.
Rates start as low as 2.199% for approved applicants. Borrowers can choose from a fixed rate mortgage, or an adjustable rate mortgage. Mortgage terms are 10, 15, 20, 25 or 30 years depending on the mortgage type (for example, a loan backed by Veterans Affairs can be a 10 year loan, whereas a conventional fixed rate loan can be up to 30 years).
For assistance in obtaining a new mortgage or refinancing an existing one, borrowers have many options to get in touch with a mortgage specialist through AmeriSave. The whole process can be handled by phone, with specialized agents ready to assist Monday-Friday, 8:00am to 8:00pm EST. Most customers prefer this route, since email correspondence can take a few days longer. For customers wanting to get information online, AmeriSave offers a quick and efficient chat option for those looking to get a quick response without waiting on hold through the call center.
AmeriSave is a good option for borrowers seeking a first time mortgage, or a refinance on an existing home. With extensive online options, customers can initiate the whole process without speaking to anyone directly. AmeriSave offers traditional loan types as well as loan options backed by the federal government, such as the Department of Veterans Affairs or the U.S. Department of Agriculture. Their streamlined process, low rates, and in some cases, low qualifying options, help ensure customers get the best option for purchasing or refinancing a home.
Do I have to submit physical copies of verification documents?
AmeriSave has an AccountChek for borrowers to submit paperless documents such as bank statements and other electronic copies of documentations needed for asset verification.
What documentation do I need to provide during the loan qualification process?
Borrowers will need to provide documentation of proof of income. The acceptable documents of income are; W2, bonus, overtime and commissions from at least 2 years, two year history of secondary employment, bank statements of pension or social security payments, rental income, dividend and interest income, Child Support, alimony, or separate maintenance income, and foreign income. The self-employed are required to provide 2 years worth of personal and business tax returns,
What is Cash Out Refinance?
Borrowers who have paid off more of their mortgage than what their home is worth will be able to take out equity in cash with the cash out refinance option.
How does Rate and Term Refinancing Work?
Rate and term refinancing is a great option for borrowers whose interest rates are higher than the current market interests rates or wish to change their mortgage loan terms. In order to apply for rate and term refinancing the borrowers home value must be worth higher than the amount that they have left owing on their mortgage.
AmeriSave Mortgage Corporation
Customer Service Department
3525 Piedmont Rd NE
8 Piedmont Center, Suite 600
Atlanta, GA 30305
*average potential savings based on report from CNBC